In What Way Should Operating Leases Be Accounted for Under

question 48

Multiple Choice

In what way should operating leases be accounted for under IAS 17?

• A)The lease payments should be capitalized and shown on the balance sheet as an asset.
• B)The lease payments must be expensed as they are incurred.
• C)IAS 17 is flexible,allowing both capitalization and expensing of operating lease costs.
• D)The lessee capitalizes the operating lease and the lessor expenses the lease.

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Definitions:

Night-blooming

Night-blooming characterizes plants that open their flowers or become active during the night, often for reasons such as attracting specific pollinators or conserving water.

Pollinator

An organism that moves pollen from the male anthers of a flower to the female stigma to achieve fertilization and produce seeds.

Floral Attraction

involves mechanisms or features of flowers that attract pollinators, such as color, scent, or nectar rewards.

Whorls

Arrangements of leaves, petals, or other plant parts that radiate from a single point and surround or wrap around a stem or axis.